By Naomi Sharang
The Centre for Transparency Advocacy (CTA), on Tuesday, commended Nigeria’s achievement in the recent final global assessment of the implementation of the Extractive Industries Transparency Initiative (EITI) in the country.
Executive Director of the centre, Ms Faith Nwadishi gave the commendation in a statement in Abuja.
She said: “CTA welcomes the news of Nigeria’s achievement in the recent final global assessment of the implementation of the Extractive Industries Transparency Initiative EITI in the country.
“In a release by the EITI global office, Nigeria achieved the highest possible score of 90 points for data integrity, report comprehensiveness, outcomes and impacts, economic growth contribution and legal framework conformance.
According to her, the feat by Nigeria was a good development even as the country was graded 72 percent over 100 overall.
“We commend NEITI for its consistency in the implementation of the EITI Process since it signed on to the EITI in 2002.
“It is also noteworthy to commend the leadership and management of NEITI to have consistently walked the part of consultations with different stakeholders in its resolve to place Nigeria in good standing in the EITI process .
“Note also that the Board specifically cited NEITI’s successful implementation of EITI in the nation with visible and tangible impacts on extractive industry governance in reaching the conclusion for Nigeria’s rating of 72 over 100.
“Although this is a commendable achievement, NEITI, the civil society , relevant stakeholders and the Nigeria government still have a lot to do to achieve at least a 98 percent excellent mark in the next EITI process in 2026.
“The CTA therefore, calls for the cooperation of all stakeholders including companies in the extractive sector to work together for the good of Nigeria especially in projecting positive activities that will lead to satisfactory outcomes from the EITI process .
“Industry operators and government agencies/regulators should open their doors and allow access for robust engagements and consultations at all times.
“Equally, the civil society should keep an open mind in engagements with NEITI which should be more often.
“The EITI process is about Nigeria and therefore bigger than any individual or group aggrandisement.
“As pointed out in the report, Contract Transparency should be a key area to focus in the next EITI process .
“We therefore call for a renewed strategy to reinforce contract disclosures and beneficial ownership by industry operators and government.
“The expansion of beneficial ownership declarations, the focus on the development of the solid minerals sector, and all other emerging challenges in the extractive sector as listed in the EITI Board assessment for improvement are additional areas that need to be improved.”
Nwadishi further called for a more significant support from the legislature which would include the presentation of NEITI reports as priority in the legislative agenda.
“And the quick passage of the NEITI Amendment Act 2007 and listing NEITI Board as statutory to avoid the constant dissolution of the board each time a new government is in power.
“In Nigeria’s oil and gas industry, we hope that this signals the beginning of a new age marked by accountability and advancement.
“Since the next global assessment of Nigeria is set for Jan. 1, 2026 by the global EITI, we hope that all remedial measures should have been reinforced.”(NAN)